Robert Nozick criticizes Rawls's concept of justice by using an example of
a. minimum wage laws.
b. the grade distribution in a class.
c. a leaky bucket.
d. the price of tea in China.
b
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In the market for used cars, if buyers and sellers have perfect information about the quality of cars, then
A) all cars will sell for the same price and there is no asymmetric information problem. B) all cars will sell for the same price and there is an asymmetric information problem. C) cars sell for their true value and there is no asymmetric information problem. D) all cars will sell for the same price and there is a moral hazard problem.
American union membership as a percentage of the total nonfarm labor force reached its peak in
a. 1900 b. 1910 c. 1920 d. 1930
The short-run Phillips Curve is ________, and the long-run Phillips Curve is ________.
A. upward sloping; vertical B. downward sloping; horizontal C. downward sloping; vertical D. upward sloping; horizontal
If the demand curve shifts outward and the supply curve remains the same, price will fall
a. True b. False Indicate whether the statement is true or false